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With a population of close to 800,000 people, Indianapolis ranks as the 12th largest city in the United States. Throughout the years, Indianapolis has developed into a world- class city giving residents an assortment of entertainment choices. As a result, the Indianapolis real estate market continues to be steady and gives great opportunities for first-time homebuyers. Since 2005, the median home cost is $121,000, and cost of living in Indianapolis is 20% below the national average. Indianapolis real estate developments and renovations throughout the city give prospective buyers a wide selection when choosing a perfect home to individualize and make your own.
An assortment of neighborhoods makes up the landscape of Indianapolis real estate. Some of the most popular areas are Meridian- Kessler, Broad Ripple, Lockerbie, Speedway, and Butler- Tarkington. The homes in these areas give you a true sense of Indianapolis and its history. Each area has a different design of architecture and community feel. Meridian- Kessler and Butler- Tarkington feature some of the most beautiful and elaborate homes on the North side of Indianapolis. Speedway is home to the annual Indianapolis 500 and has a very family- oriented feel. Lockerbie is the prestigious, renovated neighborhood just east of downtown Indianapolis featuring a glimpse into the history of the city´s 19th century real estate. Lastly, Broad Ripple is popular for many young adults and couples. The nightlife and culture in this area of Indianapolis draws in many visitors and residents.
Buying Indianapolis real estate gives you the security of investing your money into a housing market that is not in danger of a "housing bubble". Home appreciation in Indianapolis has been rising steadily and was last recorded at a 3.48% increase in 2005. In contrast, the national average of home appreciation is up 13.62%. Housing markets throughout the country especially on the East and West Coasts are experiencing a drastic rise in real estate values. Therefore, economists are debating about whether or not this could lead to a "pop" or economic slowdown. No matter the outcome of the debate, Indianapolis´s housing market is not threatened. The smart choice is obvious; Indianapolis real estate is a safe and sure bet when making the decision to buy a home.
On top of the low cost of living, fantastic neighborhoods, and steady appreciation of homes, Indianapolis´s location makes it another great perk when buying real estate here. Nicknamed as the "Crossroads of America", Indianapolis lies in the heart of the Midwest and gives travelers and residents one of the best highway systems in the nation. The city is surrounded by the I-465 circle where the interstates of 65, 70, 69, and 74 intersect and pass through it. Cities such as Chicago, Cincinnati, Columbus, Louisville, St. Louis, and Cleveland are at most a 5 hour drive away. Thus, making Indianapolis real estate ideal for those who love to travel!
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